Liberty Media Corp. said its second-quarter operating profit rose 3.6 percent as its revenue also improved.

The media conglomerate, which owns a majority stake in SiriusXM Holdings Inc., lauded the satellite-radio provider’s revenue growth during the period, which surpassed expectations. Earlier this month, SiriusXM authorized a $2 billion in share buybacks.

Douglas County-based Liberty Media, which is controlled by John Malone, said in May that it planned to spin off its cable business into a publicly traded company called Liberty Broadband. Originally, Liberty Media had intended to create a Liberty Broadband tracking stock to reflect the value of the assets to be included in the spun-off company.

Liberty Broadband will consist of Liberty Media’s approximately 26 percent stake in Charter Communications Inc., a minority stake in Time Warner Cable Inc. and the TruePosition mobile subsidiary.

For the second quarter, Liberty Media posted an operating profit of $231 million, up from $226 million in the year-earlier period.

Revenue rose 7.6 percent to $1.16 billion, in line with the $1.16 billion projected by analysts polled by Thomson Reuters.

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